Snowflake Inc. 8K

Snowflake Inc. announced strong Q2 fiscal 2027 results with accelerating product revenue growth and raised its full‑year guidance, driven by AI-related demand and expanding enterprise adoption, while remaining GAAP unprofitable but solidly profitable on a non‑GAAP basis.

Snowflake Inc. reported its financial results for the second quarter of fiscal 2027 (ended July 31, 2026), highlighting product revenue of $1.49 billion and total revenue of $1.55 billion, representing 37% and 35% year-over-year growth, respectively, along with a 126% net revenue retention rate and 828 customers generating over $1 million in trailing 12‑month product revenue. The company emphasized strong AI-driven momentum through its CoCo and CoWork offerings, expanded enterprise adoption with 829 Forbes Global 2000 customers, and remaining performance obligations of $9.0 billion, up 30% year over year. Despite a GAAP operating loss of $263 million and a GAAP net loss of $192 million in the quarter, Snowflake delivered non‑GAAP operating income of $237 million and non‑GAAP net income of $235 million, supported by high non‑GAAP product gross margins. Management raised full‑year fiscal 2027 product revenue guidance from $5.84 billion (31% growth) to $6.07 billion (36% growth) and increased non‑GAAP operating margin guidance to 14.5%, while also providing Q3 fiscal 2027 guidance for product revenue of $1.588–$1.593 billion and a 15.5% non‑GAAP operating margin, and reiterating its focus on balancing rapid growth in AI and core data workloads with operating discipline and cash flow generation.

Filing Facts

CIK

1640147

Ticker

SNOW

Form

8K

Source Type

sec

Accession

0001640147-26-000033

Alert Tier

7